BPCL signs major deals with Petrobras and Shipping Corporation of India

14 Feb 2025 CW Team

Bharat Petroleum Corporation Limited (BPCL) announced two significant agreements to strengthen India鈥檚 energy security and maritime capabilities. In the first deal, BPCL signed a one-year strategic term contract with Brazil鈥檚 national oil company Petrobras for the supply of Brazilian crude oil. The agreement, which includes an option for a one-year extension, was signed in the presence of India鈥檚 Petroleum Minister Hardeep Singh Puri and BPCL Chairman G. Krishnakumar. The deal aims to diversify India鈥檚 crude oil sources and ensure stable supplies to BPCL鈥檚 refineries.

On the same day, BPCL also inked a Memorandum of Understanding (MoU) with the Shipping Corporation of India (SCI) to develop a dedicated shipping network for transporting crude oil, gas, and petroleum products. This partnership aligns with the government鈥檚 Maritime Amrit Kaal Vision 2047 and focuses on improving operational efficiency while securing India鈥檚 energy supply chain.

BPCL, a Fortune Global 500 company and India鈥檚 second-largest oil marketing company, operates three refineries with a combined capacity of 35.3 MMTPA. Its distribution network includes over 22,000 fuel stations and 6,250 LPG distributorships as of August 31, 2024.

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